Debt Sold/Transferred proof?

pipsaholic

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Join Date: Sep 2016

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#1

Debt Sold/Transferred proof?

19 December 2016, 00:55

Hi,

If for example a bank pass/sell on a debt to a debt collection agency there has to be some sort of paperwork for this to go through? Can we ask for this transfer of ownership of the debt through the courts and if they don't come up with the documentation isn't that illegal?

Thanks.
Tags: agency, bank, claims, collection, courts, dca, debt, debt collection, debt collection agency, firm, illegal, legal, legal claims, notice of assignment, rights
Never-In-Doubt

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Join Date: Aug 2010

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#2

19 December 2016, 01:04

Re: Debt Sold/Transferred proof?

You only need to be informed, you will be. It's called a Notice of Assignment (NoA).

Usually the current dca or lender writes saying theyve assigned the debt to X and there's an introduction chaser from the new firm (X) attached. If they sell the rights (total Assignment) then sometimes they'll say so and the new owner will be in touch direct. Legal claims are done on behalf of the assignee (i.e. The bank).

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